JiHuaGroup(SH:603980)2024-04-29 13:08Financial Performance - The total profit of the parent company for 2023 was CNY 235,067,850.91, with a net profit of CNY 229,241,350.49, reflecting a profit distribution plan of CNY 56,000,000.00 in cash dividends[6]. - The company reported a total operating revenue of CNY 1,691,279,147.00 for 2023, a decrease of 12.45% compared to the previous year[23]. - The distributable profit available for distribution in 2023 was CNY 1,289,335,202.21, with a proposed cash dividend of CNY 0.70 per share, amounting to a total of CNY 48,750,492.00[6]. - The cash dividend payout ratio for the year was 20.24% of the net profit attributable to shareholders[6]. - The company’s revenue from main business activities was CNY 1,644,415,077.45, down 13.95% from the previous year[23]. - The net profit attributable to shareholders of the listed company for 2023 was -240,845,793.81 RMB, a decrease of 14.88% compared to the previous year[24]. - The total assets at the end of 2023 were 4,530,133,413.73 RMB, reflecting a decrease of 13.54% from the end of 2022[24]. - The basic earnings per share for 2023 was -0.34 RMB, a decline of 13.33% compared to -0.30 RMB in 2022[25]. - The weighted average return on equity for 2023 was -5.98%, down from -4.85% in 2022[25]. - The operating cash flow for 2023 was -125,843,799.68 RMB, significantly lower than -12,174,576.13 RMB in 2022, indicating a decrease of 933.66%[24]. Revenue Breakdown - The company reported a total revenue of 411,433,236.90 RMB in Q1 2023, with a net profit attributable to shareholders of -17,267,922.39 RMB[28]. - The total revenue for Q2 2023 was 443,217,683.53 RMB, with a net profit of -20,639,253.06 RMB[28]. - The total revenue for Q3 2023 was 424,367,085.72 RMB, with a net profit of -24,002,342.06 RMB[28]. - The total revenue for Q4 2023 was 412,261,140.85 RMB, with a net profit of -178,936,276.30 RMB[28]. - The revenue from specialized chemicals reached approximately CNY 1.63 billion, with a year-over-year decrease of 13.21%[46]. - Domestic revenue was CNY 1.39 billion, reflecting a decrease of 12.51% year-over-year, while overseas revenue was CNY 273.35 million, down 17.88% year-over-year[46]. Research and Development - Research and development expenses were 81.28 million RMB, a decrease of 9.75% from the previous year, attributed to a subsidiary's production halt[44]. - The company holds 111 patents and has participated in the formulation of 40 national and industry standards, showcasing its strong R&D capabilities[39]. - The company has 140 R&D personnel, accounting for 13.90% of the total workforce, with a majority holding undergraduate degrees[55]. - The company conducted research on 15 projects in its technology center, with 10 projects entering trial production and 5 new product development projects initiated[70]. - The company aims to enhance product superiority and reduce production costs through increased R&D and talent development[84]. Market and Competition - The company plans to continue expanding its domestic and international markets while increasing product research and development efforts[35]. - The dye industry in China accounted for nearly 70% of global production capacity, with the company positioned as an industry leader[35]. - The company reported a decrease in sales prices due to intense market competition, impacting overall revenue[44]. - The company plans to implement a differentiated competition strategy focusing on scale production, product diversification, market premiumization, and brand internationalization[85]. Environmental Responsibility - The company invested 15,100.13 million CNY in environmental protection during the reporting period[122]. - The company discharged 912,735 tons of wastewater in 2023, with an average COD concentration of 33.81 mg/L, meeting the discharge permit requirements[124]. - The company emitted 3.374 tons of sulfur dioxide, 21.793 tons of nitrogen oxides, and 6.547 tons of particulate matter in 2023, all within the limits of the discharge permit[124]. - The company has established an environmental self-monitoring plan and conducts quarterly monitoring as per regulatory requirements[128]. - The company has implemented carbon reduction measures through technological upgrades and energy-efficient equipment[134]. Corporate Governance - The board of directors is structured with clear responsibilities and operates independently, ensuring major decisions are made without interference from controlling shareholders[92]. - The company completed 4 regular reports and 56 temporary announcements during the reporting period, ensuring timely and accurate information disclosure to investors[93]. - The company has established a performance evaluation and incentive mechanism for directors and senior management, ensuring transparency in appointments[93]. - The company adheres to legal and regulatory requirements for corporate governance, ensuring compliance with the Company Law and Securities Law[92]. Financial Management - The company has entrusted a total of RMB 108,956.85 million in cash asset management, with an outstanding balance of RMB 115,278.06 million[147]. - The company has a total of RMB 50,000 million in entrusted financial management from raised funds, with an outstanding balance of RMB 21,500 million[147]. - The company has committed to various bank and trust financial products with expected annual yields ranging from 3.1% to 4%[148]. - The company has reported a total of 9,000 million in trust financial products for 2023, with a decrease of 2% compared to the previous year[154]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 25,177, down from 25,679 at the end of the previous month[170]. - The largest shareholder, Hangzhou Jinhui Electromechanical Equipment Co., Ltd., holds 196,000,000 shares, accounting for 28.00% of total shares[172]. - The actual controller of the company is Shao Bojin, who is also the legal representative of Hangzhou Jinhui Electromechanical Equipment Co., Ltd.[173]. - The company has undergone a change in its controlling shareholder, now solely held by Hangzhou Jinhui Electromechanical Equipment Co., Ltd.[173].